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TSX Rebounds as Oil Climbs and Canada’s Jobs Data Lands

  Friday, May 8, 2026  ·  Canadian Money Brief  ·  moneysavings.ca TSX Opens Higher After Thursday Dip Canadian stocks are staging a recovery Friday morning, with the S&P/TSX Composite climbing back after a rough Thursday. The index shed 0.4% to close at 33,857 as investors locked in recent gains ahead of U.S. and Canadian jobs data due Friday — with energy shares dragging it lower as oil pulled back. As of Friday morning, the TSX had recovered to around 33,932, up roughly 1.1% , following positive cues from Wall Street futures. Oil Back in Focus: Geopolitics Drive WTI Toward $96 WTI crude futures climbed toward $96 per barrel on Friday , recouping some of the week’s losses as fresh clashes between the U.S. and Iran threatened to derail diplomatic efforts to end the conflict. U.S. Central Command confirmed American forces intercepted Iranian attacks and carried out defensive strikes, while guided missile destroyers passed through the Strait of Ho...
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Tourist Resorts in Indian-Controlled Kashmir Temporarily Closed Amid Rising Tensions

 

Authorities in Indian-controlled Kashmir have temporarily shut down 48 of the 87 government-authorized tourist resorts in the scenic Himalayan region. This decision follows a deadly attack near the resort town of Pahalgam, where gunmen killed 26 people, most of them Indian tourists.

The attack has heightened tensions between India and Pakistan, leading to diplomatic measures such as visa cancellations, the recall of diplomats, and the suspension of a crucial water-sharing treaty. Pakistan has denied involvement in the attack, which was claimed by a previously unknown militant group.

The closures are a precautionary safety measure, but they have disrupted tourism in the region, which had been flourishing in recent years. Millions of visitors travel to Kashmir annually to experience its natural beauty, despite ongoing skirmishes between insurgents and government forces.

The situation remains tense, with cross-border firing reported along the Line of Control and increased security measures in place.

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